FERC Approves PJM’s Request for Offer Cap Relief

FERC has approved PJM’s request for temporary relief from the $1,000/MWh cost-based offer cap to address winter price spikes that could cause generators’ marginal costs to exceed the offer cap. On January 16, 2015, the Federal Energy Regulatory Commission (FERC) approved PJM Interconnection LLC’s (PJM) Section 206 filing to raise the $1,000/MWh energy offer cap…